Business Insider reports that accelerating outflows in the Chinese stock markets are putting mounting pressure on authorities to devalue the currency. It says: “to support the currency, policymakers have been burning through the country’s foreign reserves at a rate of about $100 billion per month.”

However, it adds that when China devalued its currency by just a few percent in the summer, The Shanghai index collapsed more than 8% and kicked off a month of market turmoil in global share markets.